Protecting You and Your Loved Ones After an Auto Accident
Med Pay is an inexpensive way to protect you and your loved ones in the event of an automobile accident. Med Pay, or more formally known as Medical Payments to Others, is a policy you can obtain through your auto insurance which covers medical expenses incurred as a result of you or your passengers being injured in an automobile accident regardless of which driver was at fault.
This coverage also protects you in the event you are a pedestrian and incur medical bills after being struck by a motor vehicle. It is a relatively inexpensive option for those without health insurance to cover medical costs, but can still be a great benefit for those with health insurance since the medical expenses “incurred” by an individual who files his or her health insurance is the amount the health insurance company pays and any remaining balance owed by the patient.
This means that even if a medical bill is entirely paid by your health insurance, you can still collect Med Pay under your automobile policy for that same bill and put Med Pay money in your wallet. This is perfectly acceptable as Virginia does not penalize individuals for having too much insurance. The best part is your automobile policy premiums will not increase for using your Med Pay protection if you are not at fault in any way for the accident causing these medical expenses.
Med Pay is supposed to be offered every time you purchase automobile insurance, but is often overlooked by individuals and insurance agents. It is purchased on a “by vehicle” basis. In other words, every vehicle you own should have a Med Pay policy in order to protect you regardless of which vehicle you drive.
In addition, you can stack coverage up to four vehicles on a single policy. For example, if you have two vehicles on an insurance policy with $2000 in Med Pay on each vehicle, you and/or any passengers in your vehicle can each recover up to $4000 for medical expenses incurred as a result of an automobile accident. This protection also covers you and any resident relatives who may be in another person’s vehicle when an accident occurs. Med Pay coverage normally starts at $1000, but some insurance carriers will offer up to $100,000 in coverage.
Although auto accidents cannot always be avoided, obtaining a Med Pay policy is a wonderful way to protect your family and friends against the costly burden of being injured in an auto accident. If you are interested in obtaining Med Pay, contact your insurance agent or get on your company’s web site in order to obtain more information.